Jerome Powell’s Crucial Statements Send Ripples Through Crypto Market
On the occasion of the July 31 news conference held on Wednesday, the Fed Chair Jerome Powell announced that the central bank will consider implementing its long-awaited move, namely, cutting the interest rate on this September. He emphasized that the economic situation is at the stage of “moving closer” to a sufficient position to lower the present policy rate, but it still represents an inadequate stage, “so we are not entirely at that stage.”he July 31 news conference held on Wednesday, the Fed Chair Jerome Powell anno
Initially, the date was set in July as the implementation time for the first rate cut; however, the Fed has by unanimous decision pronounced that it is preferable to postpone it until the next meeting. Regardless, with the result of the speech, the possibility of a September rate cut is now at 93.5%. In the context of the news from that announcement in the crypto market, some of the investors were reacting to this statement with the assumption that there will be monetary policy policy adjustments.
Shiba Inu Eyes Birthday Rally: Will SHIB Price History Prove Itself?
The present month, August of 2024, marks the fourth year since Shiba Inu meme token was created. As the community of SHIB nervously waits, the investors decide that they will scrutinize the price chart in anticipation of a rally. With respect to Shiba Inu’s history, August has been typically a successful month for the token at an average gain of 2.7% and a median gain of 3.4%.
It really doesn’t happen frequently that the average, as well as the median, are both in black, in general, which tends to boost the expected results. Consequently, it is highly likely that SHIB will thunder out August with a punch turning the sunnier. This further out turn of events may result in either a stronger bullish trend or further lightening of the summer market as we head towards the end of August.
Here’s How Much Bitcoin BlackRock Currently Holds
Seems significant that one of the most notable players in the digital assets market – BlackRock, the world’s largest asset manager has long entered Bitcoin.
Presently, it is estimated that BlackRock has approximately 6,5% of Bitcoins in the market representing the largest investor holding position. It is the driving force of the equation as with one trend reinforcing another, traditional finance is gradually welcoming the inclusion of Bitcoin as a modern asset.
One clear sign of a change in the narrative can be seen with the BlackRock’s remarkable interest in Bitcoin, a thing that only a few years ago was thought of as a speculative investment but now, it has gained ground as an income-producing property. For the first time in the crypto world, institutional investors are considering Bitcoin as a feasible asset, besides it’s the fact that BlackRock has set up a considerable portion of its resources to invest in an increasingly popular asset.
